$UA (Under Armour, Inc.)

$UA said that it expects 2016 net revenues of approx. $4.95Bil, up 25% over 2015 and 2016 operating income of approx. $503MM, up 23% over 2015. Also for the year, the company expects interest expense of approx. $35MM, an effective full year tax rate of approx. 38.5%, and fully diluted weighted avg. shares outstanding of approx. 223MM.

On the $UA brand addition to the company store, $KSS stated that
the extension lifted its overall sales in Active, in Apparel and Footwear up in
the range of about 14%. Additionally, $NKE and Adidas both had positive sales
increases in 2Q17 despite this Under Armour extension.

$UA$UAA said it sees significant opportunities for the
footwear segment in the coming quarters. The company intends to introduce six
new categories in the footwear division. Going ahead, the main focus will be on
profitability and return on investment.

$UA$UAA expects its revenues to stay flat in 3Q17, and to
increase in 4Q17. Gross margin is anticipated to
be down by about 160 basis points in 2017. Adjusted gross margin, excluding restructuring charges, is forecast to drop by 120 basis points. Interest
expense and other expenses are estimated to be $40MM.

$UA$UAA said it will embark on a restructuring
program with the goal of streamlining operations. In fiscal 2017, the company
expects to incur one-time pre-tax charges of $110-130MM related to restructuring.
The majority of the charges will be accounted in 3Q17. Under Armour plans to invest
more heavily in the most powerful areas of its business.

Revenues from $UA’s North American operations edged up 0.3%
to $830MM in 2Q17. Revenues in EMEA and Asia-Pacific climbed 57% and 89% respectively,
compared to the second quarter of 2016. Revenues in Latin America were higher
by 10.4%.

$UA has lowered its revenue growth guidance for fiscal 2017
to 9-11% from the earlier outlook of 11-12%, reflecting moderation in the North
American business. EPS is forecast in the range of $0.18 to $0.21, and adjusted
EPS is expected to be in the $0.37-$0.40 range. The company sees operating
income between $160MM and $180MM for the year.

Apparel maker $UA slipped to a loss of $12.3MM or $0.03 per
share in 2Q17 from profit of $6.3MM or $0.15 per share last year. Revenues rose
9% to $1.1Bil, with wholesale customer revenues rising 3% and direct-to-consumer
revenues gaining 20%. Apparel revenue grew 11%, while footwear revenue dropped
2%. There was a 22% rise in accessories revenue.

$UA$UAA appointed Paul Fipps as Chief Technology Officer and will lead the company's Connected Fitness business. Colin Browne has been named Chief Supply Chain Officer and Kevin Eskridge was named Chief Product Officer.

$UA$UAA appointed Patrik Frisk as its President and COO, effective July 10. The company also announced strategic executive changes to align its organizational structure to better leverage its digital business, support its move toward category management, and drive greater operational efficiency across the organization.

$UA$UAA said it is doing a lot of seismic internal things and will continue to do it throughout 2017 to better position itself. The company feels good about its collection and line of products, but still thinks it can do better.

$UA$UAA said it is out of acquisition mode and in activation mode. The apparel retailer plans to better its existing partners, and said it will not do any big box opening in the United States for a very long period of time.

$UA$UAA still predicts 2017 gross margin to be slightly down compared to 46.4% in 2016 with benefits in product costs being offset by changes in foreign currency and shifts in overall sales mix, as the footwear and international businesses continue to outpace the growth of the higher margin apparel and North American businesses.

$UA$UAA still predicts 2017 revenue growth of 11-12% to reach nearly $5.4Bil, up 12-13% currency neutral. The company expects operating income to reach about $320MM, interest expense of about $40MM and effective tax rate of 32-34%.

$UA$UAA slipped to a loss in 1Q17 from a profit last year, due to higher costs and expenses. Net loss was $2.27MM or $0.01 per share compared to a profit of $19.18MM or $0.04 per share last year. Revenue grew to $1.12Bil from $1.05Bil, on a 4% rise in wholesale revenue and a 13% growth in direct-to-consumer revenue.

Lundin Law PC, a shareholder rights firm, has sued $UA alleging violations of federal securities laws between April 21, 2016 and January 30, 2017. Investors who purchased or acquired shares during this period should contact the firm in advance of the April 10, 2017 lead plaintiff motion deadline, to participate in the lawsuit.

$UA announced that Clay Dean has joined the company as Chief
Innovation Officer. Mr. Dean will be based out of the company's global
headquarters in Baltimore, Maryland, and will report to Kevin Haley, President,
Category Management and Innovation.